On a daily scale the EurUsd is still unable to breach its EMAs, though it has managed to close in the green yesterday.
The main picture remains the same: a triangle figure, which may be doing its signal before an upcoming slide, unless the critical 1.11955 resistance is breached and the parity rallies across 1.12375, the invalidation level of the figure.
The primary objective will be 1.13171, should the figure be cancelled, and 1.0994 should the correction turns to be a validation signal of the triangle.
The EurUsd's daily Pivot Point is around 1.11553, below its current opening price, suggesting the trend to be bullish. The daily support levels are around 1.11370, and 1.11036. The daily resistances are around 1.11887 and 1.1207.
Cutting through 1.11218 will invalidate the bullish trend for today, driving the parity towards 1.1103, triggering the triangle's objective of 1.0994. Breaching 1.1177 will keep the figure on stand by, and will have 1.207 as a primary objective.
Moreover, the fast EMA is about to cut through the slower one giving more signals about a possible downward trend, or at least a tougher resistance area.
Yesterday's US Labor day reduced the markets and lowered volatility. Both should increase today.
The main picture remains the same: a triangle figure, which may be doing its signal before an upcoming slide, unless the critical 1.11955 resistance is breached and the parity rallies across 1.12375, the invalidation level of the figure.
The primary objective will be 1.13171, should the figure be cancelled, and 1.0994 should the correction turns to be a validation signal of the triangle.
The EurUsd's daily Pivot Point is around 1.11553, below its current opening price, suggesting the trend to be bullish. The daily support levels are around 1.11370, and 1.11036. The daily resistances are around 1.11887 and 1.1207.
Cutting through 1.11218 will invalidate the bullish trend for today, driving the parity towards 1.1103, triggering the triangle's objective of 1.0994. Breaching 1.1177 will keep the figure on stand by, and will have 1.207 as a primary objective.
Moreover, the fast EMA is about to cut through the slower one giving more signals about a possible downward trend, or at least a tougher resistance area.
Yesterday's US Labor day reduced the markets and lowered volatility. Both should increase today.
